France & Spain go after Syrian PEP, the Butcher of Hama’s $1 billion in unexplained wealth

Rifaat al-Assad, the uncle of Syria’s President Bashar al-Assad, is facing permanent asset forfeiture in France in connection with unexplained wealth and asset accumulation in France. He was charged in France last month with corruption, money laundering and embezzlement of state assets from Syria. He was ordered to remain in France. He is a politically exposed [...]

Colombian financial crime police find suspected money launderer on Instagram buying Lamborghini and Porsche on her Dad’s $2,400 a year salary

The Colombian financial crime police noticed and tracked down a suspected money launderer by following her extravagant shopping sprees on Instagram. Jenny Ambuila, a Colombian foreign national, was arrested by Colombian federal police for suspected money laundering. She posted many images of expensive purses and 5 star hotel stays in the EU as well as the [...]

Iranian charged in €6.6 billion case with disrupting Iran’s economy by moving money for sanctions avoidance, immigrated to Canada

Updated 2019-04-14 Another Iranian in Canada alleged to owe millions to Iran Marjan Sheikholeslami, an Iranian foreign national, now living in Toronto, Canada, is alleged to have played a major part of a financial crime case with an Iranian petroleum executive, Reza Hamzehlou, and is on trial in absentia in Iran for disrupting Iran’s financial system [...]

US indicts 12 Russian nationals for money laundering and hacking

The US has indicted 12 Russian foreign nationals for hacking, conspiracy and money laundering for allegedly interfering with the 2016 US presidential election. According to the indictment, Russia operated an intelligence agency called GRU which obtained confidential documents from the Clinton campaign systems by hacking and systematically released them to sway public opinion. According to [...]

US to adopt national money laundering & terrorist financing strategy that includes risks from digital currencies

US President Trump signed new sanctions legislation into law on August 3, 2017, against Iran, Russia and North Korea, and at the same time, adopted a new national strategy to combat terrorist financing and money laundering. The legislation, “HR3364 – Countering America’s Adversaries Though Sanctions Act” is more than about sanctions. In large part, it’s [...]

Issues in Financial Crime, Technology, RegTech, Artificial Intelligence & Machine Learning

3rd Annual Vancouver FinTech Conference The 3rd Annual Financial Technology Conference in Vancouver takes place on May 3, 2017, which we co-sponsor. This year’s Conference focuses on “FinTech, RegTech and Financial Crime” and will cover the nexus between technology solutions to address regulation (RegTech), law, money laundering, terrorist financing, compliance, fraud, identity management, corruption, real [...]

Politically exposed Chinese foreign national pleads guilty to immigration fraud

Shilan Zhao (趙世蘭), the ex-wife of a Chinese official and a politically exposed person, has pleaded guilty to immigration fraud related to the EB5 investor visa program in the US and will serve a term of incarceration of five years. Zhao conspired with her husband, Jianjun Qiao (喬建軍), aka Feng Li, to immigrate to the [...]

World Check being sued over database of personal information

A number of persons and organizations are allegedly preparing to sue Thomson Reuters, the organization that runs World Check for wrongly listing them in a database as a financial crime risk. World Check created (apparently without informed consent at least under Canadian law), an online global database that purports to provide anti-money laundering, sanctions and [...]

Nigeria gets ex parte asset recovery order for $153,000,000 in proceeds of corruption from PEP parked in banks

The government of Nigeria will be able to recover $153 million in proceeds of corruption from Diezani Allison-Madueke, its former Minister of Petroleum, who was and remains a politically exposed person under anti-money laundering law. The funds were alleged to have been stolen from the Nigerian National Oil Company when it was under her control as [...]